Godawari Power approves preferential warrant issue to raise capital

Godawari Power and Ispat Limited's board of directors, in a meeting on September 18, 2025, approved a preferential issue of up to 2,04,08,220 warrants at a price of INR 245 per warrant. Each warrant is convertible into one fully paid-up equity share of INR 1 face value at a premium of INR 244, aggregating to INR 5,00,00,13,900. This preferential issue is aimed at promoters, promoter group members, and other identified non-promoters, subject to shareholder and regulatory approvals.

An extraordinary general meeting (EGM) is scheduled for October 15, 2025, at 11:30 A.M., via video conferencing, to seek shareholder approval for the preferential issue. The proposed allottees for the warrants include Mrs. Sarita Agrawal, Mr. Dinesh Agrawal, Mr. Kumar Agrawal, Hanuman Prasad Agrawal (HUF), Mr. Sanjay Gupta, Shree Nakoda Pipes Impex Private Limited, and Meridian Realtech Private Limited.

Assuming full conversion of all warrants, the promoter and promoter group shareholding will slightly decrease from 63.51% to 63.05%, while the public shareholding will remain around 36.95%. Each warrant is convertible over an 18-month period, with any unconverted warrants lapsing and the paid amount forfeited. The issue is priced at INR 245 per warrant, with seven investors participating.